Trade sale
Hong Kong unrest hampers sale of PE-owned work space provider
The private equity owners of The Executive Centre (TEC), an office provider that relies on Hong Kong for 30% of its EBITDA, have suspended a sale process in response to ongoing protests in the territory.
Advent to buy control of Indian snacks producer DFM
Advent International has agreed to acquire a 67.9% stake in Indian snacks manufacturer DFM Foods from investors including WestBridge Capital for INR8.52 billion ($118.7 million). It has made an open offer to buy a further 26% of the company for INR3.26...
KKR buys majority stake in India's EuroKids from Gaja
KKR has acquired a majority stake in Indian education services provider EuroKids International, facilitating a full exit for local GP Gaja Capital with a 6x return.
Mahindra & Mahindra to buy 55% of India's PE-backed Meru
Indian automotive conglomerate Mahindra & Mahindra has agreed to acquire an up to 55% stake in Meru Cab, a technology-enabled taxi company backed by True North.
VIG secures 3.2x return on Korea's HiParking
VIG Partners has agreed to sell Korean parking management business HiParking to Humax, a consumer electronics manufacturer, for KRW170 billion ($141 million).
VCs to exit China job site as Meitu buys majority stake
Northern Light Venture Capital (NLVC), SBCVC and Hotung Venture Group will exit Chinese online recruitment platform Dajie.com after Meitu agreed to buy a majority stake in the business. The valuation of $88.4 million represents a small premium to the...
Australia's PE-backed LBNCo acquired by strategic player
LBNCo, an Australian fiber optic network provider acquired last year by a consortium led by ROC Partners, will be sold to industry peer Uniti Wireless for A$100 million ($67.7 million).
J-Star exits Japanese auto industry supplier
J-Star has sold Tokai Trim, a Japanese manufacturer of seat covers for cars and motorcycles, to domestic hotel chain operator Rembrandt Holdings.
Deal focus: Longreach secures swift return from Japan's NOC
The Longreach Group exits Nippon Outsourcing Corporation with a 2.7x return after strong domestic interest in Japan's demographics-driven BPO industry led to a shorter-than-expected holding period
Jade Invest part exits China's Latt Liv to JD.com
Jade Invest has confirmed a partial exit from Chinese lifestyle goods retailer Latt Liv, selling a “strategic stake” to e-commerce giant JD.com. Financial terms have not been disclosed.
Pemba exit from Australia's Coverforce challenged by founder
Australian insurance broker network AUB Group has agreed to buy a 49% stake in Coverforce Holdings from Pemba Capital Partners with a view to taking full ownership, but the company’s founder is seeking to block the transaction.
Tiger Global leads $75m Series E for India's UrbanClap
India-based local services marketplace UrbanClap has raised a $75 million Series E round led by Tiger Global Management that will provide an exit for some unnamed investors.
Deal focus: Jollibee circles as Coffee Bean booms in Asia
The Philippines’ Jollibee Foods is set to buy US cafe chain The Coffee Bean & Tea Leaf to continue a massive Asian expansion effort. Exiting investor CDIB Capital attests to the opportunity set
XIO Group agrees JD Power sale to Thoma Bravo
XIO Group, a cross-border PE firm established by several Asia-based investment professionals, has agreed to sell market research business J.D. Power to technology-focused GP Thoma Bravo.
TPG, Fosun sell China hospital business to Antony Leung's SPAC
TPG Capital and Fosun Pharma have agreed a $1.3 billion deal that will see Chinese hospital operator United Family Healthcare (UFH) absorbed by a special purpose acquisition company (SPAC) established by Antony Leung, formerly Greater China chairman at...
SAIF exits as PepsiCo invests $130m in Chinese food distributor
Pepsico has agreed to invest HK$1.02 billion ($130 million) in Natural Food International, a Hong Kong-listed health food distributor, providing a full exit for SAIF Partners.
PE investors exit The Coffee Bean & Tea Leaf to Jollibee
Advent International, CDIB Capital and Mirae Asset Private Equity are set to exit US-based cafe chain The Coffee Bean & Tea Leaf after the Philippines’ Jollibee Foods agreed to pay $350 million for the company.
Ebix to acquire India's Yatra Online for $338m
Indian travel services platform Yatra Online, which has several VC investors, has agreed to an acquisition by software and e-commerce services provider Ebix at an enterprise valuation of $337.8 million.
PAG buys Australia's Craveable Brands from Archer
Australian quick service restaurant chains Oporto, Red Rooster and Chicken Treat have their third consecutive private equity owner after PAG Asia Capital bought the business from Archer Capital.
Singapore's Novena buys VC-backed China hair salon chain
Singapore-based healthcare platform Novena Global Lifecare has completed a $350 million merger with Xingkedou, a VC-backed Chinese hair salon operator that specializes in fast turnaround services.
Southeast Asia exits: Greener pastures
Southeast Asia’s internal growth and rising appeal among global investors in recent years have fed expectations that PE and VC exits will follow. The logic is sturdy but detailed projections are elusive
KKR agrees $2.2b sale of Japan's Kokusai Electric
KKR will sell Kokusai Electric – a semiconductor-focused thin film manufacturing business acquired from Hitachi approximately 18 months ago – to US-listed Applied Materials for $2.2 billion in cash.
Deal focus: Peepul’s power grab pays off with CNPS exit
Peepul Capital has secured an exit from Indian power supply maker CNPS, selling the business to Japan's Fuji Electric seven years after acquiring a majority stake
Deal focus: KKR drives KCF ahead of schedule
KKR generates a healthy exit for its third pan-Asian fund by helping Korean copper components supplier KCF Technologies build up exposure to a booming electric vehicle market
